Mumbai, Dec 20 || Indian equity benchmarks closed on a strong note this week, snapping a four-day losing streak amid positive global cues stemming from US inflation data.
The market ended the week in a bullish tone with Nifty surging 0.18 per cent during the week and 0.58 per cent on the last trading day to 25,966, after a softer US CPI print boosted expectations of a milder Fed stance.
At close, the Sensex was up 447.55 points or 0.53 per cent at 84,929.
Indian equities were traded in a cautious tone for most of the week, weighed down by persistent FII outflows, rupee depreciation, and heightened global uncertainties.
Further, early sessions also saw pressure from rising Japanese bond yields and expectations of Bank of Japan (BoJ) tightening, which amplified risk-off sentiment across emerging markets.
Bargain hunting and lower crude prices helped large caps drive a late rebound, trimming most of the week’s losses, market watchers said.